Privatisation of public sector units opposed

All India Public Sector & Central Government Officers Confederation (AIPCOC) has ridiculed the Centre’s decision to privatise profit-making public sector units.

At the two-day national executive meeting, which concluded here on Sunday, the policies of the government, particularly with reference to privatisation, implementation of pay revision and pension issues were reviewed.

In a statement, the AIPCOC opposed DCI privatisation and said “there can be no rationale to privatise a profitable venture, that too in a sector where there is a sufficiently large market. Let the government encourage Greenfield investments.”

Steel Executives Association general secretary Katam S.S. Chandra Rao said it was not correct to compare Tata Steel with RINL as the former had its captive mines.

Demanding captive mines for RINL, he said this would minimise the cost of production and CAPEX (capital expenditure). He wanted working capital enhanced to ₹16,500 crore for Visakhapatnam Steel Plant.

All India Bank Officers’ Confederation secretary general D.Thomas Franco Rajendra Dev assured the support of AIPCOC to the employees of DCI and RINL.